Stock Market Update

[BRIEFING.COM] The major averages have stabilized after a dip from earlier session highs as sector strength continues to fluctuate.

The information technology sector (+0.6%) still leads all sectors despite previously holding a gain wider than 1.0%.

While NVIDIA (NVDA 181.67, +3.48, +1.95%) still holds a solid gain, chipmakers are seeing some selling activity, with the PHLX Semiconductor Index (+0.7%) seeing its early gain halved. 

Meanwhile, the sector continues to benefit from strong demand for NAND products. Western Digital (WDC 114.92, +8.04, +7.52%) and Seagate Tech (STX 226.75, +9.24, +4.25%) both trade higher as Sandisk (SNDK 110.96, +13.84, +14.25%) resumes its impressive rally after a brief sell-off last week. 

Sandisk notably implemented a 10% price hike for NAND products in new orders this month amid surging AI and data center demand.